Allens Linklaters and Ashurst act on Mitsui deal

Allens Linklaters and Ashurst have advised on mining company Mitsui and Co's 49.9 per cent acquisition of National Plant and Equipment.

Allens Linklaters and Ashurst have advised on international trading house and mining company Mitsui and Co.'s 49.9 per cent acquisition of National Plant and Equipment.

The deal, worth in excess of $100 million, will see Mitsui take a large stake in a major supplier of heavy machinery and earthmoving equipment to the mining and construction industries.

Partner Steve Clifford led the Allens team on the transaction.The team included senior associate Charlie Harrison and lawyer Emma Arbon, with 22 other partners and lawyers from various Allens offices nationally.

The team advised on the transaction structure and negotiated the terms of the deal, as well as assisting with due diligence and drafting the suite of transaction documents.

Clifford said Allens has had a relationship with Mitsui stretching back over many decades.

'This is a strategic investment for Mitsui, which already has a strong presence in the Australian resources industry. As a result of this transaction, Mitsui will play an increasing role in supporting the booming resources industry through the provision of equipment rental services,' he said.

Ashurst, which also has a long relationship with Mitsui, also advised on the deal.

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